Who Owns Progressive Insurance?

Progressive Insurance is one of the largest providers of car insurance in the United States. With a catchy advertising campaign, an easy-to-use website, and competitive pricing, it’s no wonder that many Americans choose Progressive as their insurance provider of choice. But who owns Progressive Insurance? In this article, we’ll explore the history of the company and its current ownership structure.

History of Progressive Insurance

Progressive was founded in 1937 by Joseph Lewis and Jack Green, with the goal of providing affordable car insurance to a wider range of Americans. At the time, most car insurance companies only offered coverage to people who had spotless driving records, leaving high-risk drivers without any options. Lewis and Green wanted to change that, and they started Progressive with the idea of offering insurance to anyone who needed it, regardless of their driving history.

Over the years, Progressive continued to expand its offerings and grow its customer base. In the 1990s, the company became known for its innovative use of technology, including an online quote system that allowed customers to get a quote for car insurance in just a few minutes. Today, Progressive is one of the largest car insurance companies in the United States, with over 20 million policies in force.

Ownership Structure of Progressive Insurance

So, who owns Progressive Insurance today? The answer is that the company is publicly traded on the New York Stock Exchange under the ticker symbol PGR. This means that anyone can buy shares in Progressive and become a part owner of the company.

As of this writing, the largest shareholder of Progressive is The Vanguard Group, a financial services company that manages trillions of dollars in assets. Other major shareholders include BlackRock, State Farm Mutual Automobile Insurance Company, and The Capital Group Companies.

Despite being publicly traded, Progressive has remained true to its roots as a customer-focused company. The company’s website and mobile app are designed to make it easy for customers to manage their policies and make claims. Progressive also offers a range of discounts and rewards programs to help customers save money on their insurance premiums.

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The Bottom Line

Progressive Insurance is a well-known and highly respected provider of car insurance in the United States. While the company is publicly traded and owned by a variety of investors, it has remained true to its founding mission of providing affordable insurance to all drivers, regardless of their driving history. With a strong focus on customer service and innovative technology, Progressive is likely to continue to be a major player in the insurance industry for years to come.